Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manroland, a manufacturer of printing machines, has announced the loss of 615 jobs due to falling orders. Since 1 January 2009 orders have decreased by 20%, management says. Plans to go public were already put on hold in 2008. 65% of the company are held by Allianz Capital Partners, a capital investor owned by insurance company Allianz. 35% of Manroland are held by truck manufacturer MAN, the former owner of the printing manufacturer (formerly named MAN Roland).
On 16 January, the works council had announed that 1,000 jobs are at risk to be cut. Five days later, on 21 January, the management announced that 625 employees (of which 515 in administrative functions) are to loose their jobs.
Plans foresee the closure of the manufacturing plant at Mainhausen and relocation of the manufacturing to the nearby plant at Offenbach. As direct dismissals are not realisable before the end of 2009 due to a collective agreement concluded in 2008, the 515 employees will be asked to resign voluntarily in 2009. Another 110 jobs will be shed at the manufacturing plants at Plauen and Augsburg.
Eurofound (2009), Manroland, Internal restructuring in Germany, factsheet number 67843, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67843.